Luanda – On Monday, Brent crude oil opened trading at USD 72.87 per barrel on the international market, marking a 0.5% decline compared to the previous session on Sunday.
Crude oil futures for delivery in April closed on Sunday at USD 72.86 per barrel, with a minimum price of USD 72.72 and a maximum of USD 72.96, according to the specialized website “investing.com.”
Last week, oil prices experienced a dip due to concerns that ongoing U.S. tariff disputes could potentially lead to a global recession.
However, prices rebounded, rising for the third consecutive week, following increased pressure from Washington on key members of the Organization of the Petroleum Exporting Countries (OPEC), including Venezuela and Iran, as reported by the British news agency, Reuters.
Brent crude futures dropped by 0.5%, settling at USD 73.63 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures declined by 0.8%, reaching USD 69.36 per barrel.
Despite the heightened recession risk, high-frequency indicators of oil demand have remained relatively stable, providing some reassurance.
Brent crude serves as the benchmark for Angola’s oil exports, making its price fluctuations vital for the country’s economy.
For the 2025 financial year, Angola’s General State Budget (OGE) has been projected with an oil price assumption of USD 70 per barrel and an estimated daily production of 1.098 million barrels.
